Auckland point-of-sale payment system provider SmartPay has reported a profit turnaround and plans further expansion in Australia, along with a listing on the Australian Securities Exchange by mid-July.Smartpay bought fellow payment solutions provider Viaduct in December, then raised fresh capital and changed its management team, as it became New Zealand's biggest provider.It reported a rise in operating lease revenues to NZ$13.9 million in the year to March 31, from $11.6 million the previous year. SmartPay's net loss improved to $5.9 million, from $12.7 million the previous year, and included one-off restructuring and capital raising charges. SmartPay said it was currently generating revenues at an annual run rate of $22.3 million, and earnings before interest, tax, depreciation and amortisation, of $9.4 million, were up from $5.1 million in the just completed financial year."With the business now on a solid footing, we have also been able to turn our focus to investing in our Australian business, which represents a large organic growth opportunity," said SmartPay managing director Bradley Gerdis."We have begun to invest in our sales resources and have identified a number of sales channels which we are actively pursuing. While our Australian business is still in the early growth phase, I am pleased to report that we are making positive progress," Gerdis said.